Shares of Vishal Mega Mart Ltd surged 43.50 per cent in debut trade on Wednesday against the issue price of Rs 78.
The stock listed at Rs 110, rallying 41 per cent from the issue price on the BSE. During the day, it surged 48.20 per cent to Rs 115.60. Shares of the firm finally ended at Rs 111.95, a jump of 43.52 per cent.
At the NSE, the stock was listed at Rs 104, a surge of 33.33 per cent from the issue price. Shares of the firm ended at Rs 111.93, climbing 43.5 Vishal Mega Mart's market capitalisation (mcap) stood at Rs 50,475.11 crore.
In traded volume terms, 795.19 lakh shares of the firm were traded at the BSE and 7,287.32 lakh scrips on the NSE during the day.
In the equity market, the 30-share BSE benchmark Sensex tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. The NSE Nifty declined 137.15 points or 0.56 per cent to 24,198.85.
The Rs 8,000-crore initial public offer of Vishal Mega Mart received 27.28 times the subscription on the closing day of bidding on Friday.
The initial public offer (IPO) had a price range of Rs 74-78 apiece.
The IPO of the Gurugram-based supermart major was entirely an Offer-for-Sale (OFS) of shares by promoter Kedaara Capital-led Samayat Services LLP, Samayat Services LLP, with no fresh issue of equity shares.
Vishal Mega Mart's product range includes both in-house and third-party brands, covering three key categories -- apparel, general merchandise, and fast-moving consumer goods.
As of June 30, 2024, it operates 626 Vishal Mega Mart stores across India, along with a mobile app and website.
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